ARA Trust Management announces new CEO
AS part of succession plans, Yeo See Kiat will be retiring as chief executive and stepping down as executive director of ARA Trust Management while Chan Kong Leong will take over both roles from Jan 1 next year.
ARA Trust Management is the manager of Suntec Real Estate Investment Trust.
John Lim, ARA group CEO, said: "Despite the global financial crisis and the challenging market conditions, Suntec Reit has grown from strength to strength under See Kiat's leadership. During his tenure, See Kiat had executed several large acquisitions, oversaw the successful remaking of Suntec City, and led the Reit's successful expansion into Australia."
Suntec Reit's assets under management have grown from S$2.2 billion at IPO in 2004 to S$9.3 billion today, making it one of the largest Reits listed on the Singapore Exchange.
Mr Chan has been the chief operating officer of ARA Trust Management since June 1. He has previously worked with the CapitaLand Group, where he held senior management positions such as senior vice-president and head of regional investment.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly
HCA beats first-quarter profit estimates on higher patient admissions